South Korea: Income and profits taxes

* indicates monthly or quarterly data series
 South Korea

Income, profits, and capital gains taxes: percent of revenue

 Latest value 30.40
 Year 2021
 Measure percent
 Data availability 1972 - 2021
 Average 27.53
 Min - Max 22.16 - 34.76
 Source The World Bank
For that indicator, we provide data for South Korea from 1972 to 2021. The average value for South Korea during that period was 27.53 percent with a minimum of 22.16 percent in 1975 and a maximum of 34.76 percent in 1989. The latest value from 2021 is 30.4 percent. For comparison, the world average in 2021 based on 102 countries is 25.40 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
South Korea - Income and profits taxes - Recent values chart

Historical chart
South Korea - Income and profits taxes - historical chart - 1972-2021

Definition: Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.

 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 18.77 2022 percent
 Government spending, in dollars 314.15 2022 billion U.S. dollars
 Fiscal balance, percent of GDP -3.00 2022 percent
 Government debt 49.40 2022 percent
 Government expenditure 102,117.30 Q3/2023 billion
 Long-term government bond yield 3.95 9/2023 percent
 Tax revenue 16.73 2021 percent
 Commercial tax rate 33.20 2019 percent
 Tax preparation time 174 2019 hours
 Number of taxes 12 2019 taxes
 Taxes on goods and services 18.68 2021 percent
 Taxes on international trade 1.38 2021 percent
 Income and profits taxes 30.40 2021 percent
 Foreign aid -71.54 2004 million U.S. dollars
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